See below image for the Financial planning process review and monitor diagram. If conducting a review, the financial planning professional and the client review the client’s situation to assess progress toward achievement of the objectives of the financial planning recommendations, determine if the recommendations are still appropriate, and confirm any revisions mutually considered necessary.
FPSB’s Financial Planning Process is a collaborative, iterative approach that financial planning professionals use to consider all aspects of a client’s financial situation when formulating financial planning strategies and making recommendations. Scroll down to learn about each part of the process.
They evaluate each recommendation, considering: In this step, the financial planner presents the recommendations and the thought process behind the recommendations. This helps the client make an informed decision about whether the recommendations are a good fit. Implementing the plan means putting the plan to work.